By: The Trek News Desk
The United States has initiated a fresh investigation into several of its key trading partners, including India, China, and the European Union. The move comes shortly after the US Supreme Court struck down a significant part of President Donald Trump’s tariff policy last month.
US Trade Representative Jamieson Greer announced on Wednesday that the probe has been launched under Section 301, focusing on alleged unfair trade practices by several countries. According to Greer, the investigation could result in new import duties being imposed on countries including China, the European Union, India, Japan, South Korea, and Mexico as early as this summer.
Greer stated that if the inquiry finds evidence of unfair trade behaviour, the US government may impose additional tariffs on goods imported from those countries.
He also mentioned that the Trump administration aims to complete the investigation before July, when the temporary tariffs introduced at the end of February are scheduled to expire.
Apart from the major economies, the probe will also examine trade practices in Vietnam, Thailand, Malaysia, Cambodia, Singapore, Indonesia, Bangladesh, Switzerland, and Norway. Notably, Canada, the United States’ second-largest trading partner, has not been included in the list of countries under investigation.
The development follows a recent Supreme Court ruling that declared the tariffs imposed by Trump on several countries in April last year unlawful.
Following the court’s decision, Trump announced a new global tariff of 10 per cent and sharply criticised the ruling. He had initially suggested the rate could rise to 15 per cent, but when the measure came into effect, the tariff remained at 10 per cent. However, senior officials in the administration have since indicated that the rate could still be increased to 15 per cent in the future.
Analysts believe the new investigation could help the administration rebuild a stronger legal and economic basis for imposing tariffs on trading partners.
Meanwhile, senior officials from the United States and China are scheduled to meet in Paris later this week. The talks are expected to help prepare the ground for a possible meeting between Donald Trump and Chinese President Xi Jinping in Beijing later this month.
Source: News Agencies
